CHICAGO—After a one-year struggle, Wicker ParkApartments Inc., a local developer, has finally succeededin getting title via a foreclosure sale of 1515-1517 W. Haddon St.,a triangular Wicker Park property near the CTA's Blue Line stop atDivision St. The company also just obtained an $8,175,000construction loan from Chicago-based Wintrust andbegun work at the property on a 40-unit development called WickerPark Lofts.
“We are constructing a soft loft rental apartment building thatwill be a six-story structure and takes advantage of the property'sunique shape,” says Mark Sutherland, principal ofWicker Park Apartments Inc. “Studios, one, two and three-bedroomunits will feature top-of-the-line finishes and state-of-the-artdesign elements. The fourth, fifth and six floors will havebreathtaking city views.”
Sutherland was a condo developer, but after the downturn madethe transition to apartments. He currently owns, renovates andoperates apartment buildings in the Wicker Park, Noble Square andUkrainian Village neighborhoods.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
